Question

What should this business budget monthly for each of the following expenses? What are the total expenses per annum (per year)? (Value: 3 pts)
Business expenses

Insurance $1268.00 semi-monthly

Total salary for two employees $148500.00 annually

Rent $3920.00 monthly

Vehicle maintenance $865.00 quarterly

Solve with as if in college

Answer 1

Insurance: $1268.00 x 2 = $2536.00 monthly
Total salary for two employees: $148500.00 / 12 = $12375.00 monthly
Rent: $3920.00 monthly
Vehicle maintenance: $865.00 x 4 = $3460.00 monthly

Total monthly expenses:
$2536.00 (Insurance) + $12375.00 (Salary) + $3920.00 (Rent) + $865.00 (Vehicle maintenance) = $19696.00

Total yearly expenses:
$19696.00 x 12 = $236352.00

The business should budget $19,696.00 monthly for expenses and the total expenses per annum are $236,352.00.